Most Innovative Infocomm Product/Solution

Company
CashRun Pte Ltd
Product/Solution
Cash Shield

Product/Solution Description

CashShield is a real time fraud prevention solution designed with big data and machine learning, which is optimised through a unique financial risk management algorithm. A big challenge currently exists in the payment ecosystem; online merchants suffer the greatest losses from fraudulent chargebacks with a lack of protection from credit card companies such as Visa and MasterCard, and payment service providers (PSPs). Whenever a fraudulent chargeback is filed by a consumer, the merchant has to compensate the consumer, on top of the losses he/she made from the lost product.

This issue is exacerbated by the fact that the existing fraud solutions are extremely costly and ineffective in dealing with fraud. Traditional fraud solutions often rely on manual reviews, are very complicated to set-up, taking as long as 3-6 months and use various restrictions and rules that alters user experience whilst turning away genuine customers, effectively killing conversion rates. CashShield is able to remove all these unnecessary and harmful restrictions to boost customer experience and sales with results visible within 1-2 weeks.

CashShield’s self-developed algorithm generates optimized decisions, eliminating the need for manual reviews and shifting businesses towards full automation. We stand by our decisions with by offering an unprecedented 100% Chargeback Protection for both physical and digital goods.

Benefits

What sets CashShield apart from other traditional fraud solutions is that CashShield eliminates the need for manual reviews while removing hard rules. This means the solution effectively lowers the cost of managing fraud, allowing greater business potential for companies that adopt this solution.

The benefits of CashShield include: 

  1. Increased acceptance rates
    1. The usual approach to fraud prevention is often very risk averse, or very focused on bringing fraud as close to zero as possible, which severely impacts acceptance rates and borderline genuine transactions are often turned away.
    2. CashShield’s unique financial risk algorithm works to optimize revenue based on the optimal level of risk for the merchant. As a result, CashShield is able to achieve high acceptance rates (average 95-98%) for businesses, even for high risk industries. The industry average is normally 60%.
    Increased revenue and growth
    1. Traditional hard rules and unnecessary buying restrictions (e.g. not being able to purchase beyond a certain value in a day) that turn away genuine customers and severely impact user experience can be removed with CashShield.
    2. The resultant greater flow of customers (and more transactions from returning customers) together with the higher acceptance rates both contribute to the increased revenue growth for the business.
    3. CashShield is the first and only solution in the world to provide a 100% Chargeback Protection for both physical and digital goods, making it a merchant-centric solution that provides real protection from fraud. This also allows merchants to expand globally easily with lowered risks.

  2. Lowered cost of managing fraud
    1. CashShield’s first-of-its-kind fully automated system is the only solution in the world that does not require human reviews and is able to eliminate all manual reviews and move businesses towards full automation.
    2. With the elimination of manual reviews, businesses can now redirect resources that were previously meant for manual reviews in more efficient areas, and focus on their core business.
    3. Full automation also means businesses can scale up operations easily without a huge jump in the cost of managing fraud.

  3. Reduced fraud and chargebacks
    1. CashShield’s intelligent fraud system based on big data and machine learning is able to detect coordinated fraud attacks and stop them in real time, while allowing genuine customers to pass, achieving lowered fraud rates.
    2. At the same time, CashShield’s 100% Chargeback Protection covers any unauthorised transactions, safeguarding you from chargeback risks.

About CashRun Pte Ltd

CashShield was established in 2007 with the objective of pioneering research within the highly unexplored and specialized field of cyber fraud risk management to develop an optimized online fraud protection solution. Since CashShield’s launch, it has helped partner merchants, including major Telcos in Europe and US, boost sales and cut cost, where they enjoy an average 220 – 1800% revenue growth (over 6 months – 2 years).

A global leader in the payments and fraud industry, CashShield has travelled around the world, speaking up on payments and fraud at various events such as the Merchant Risk Council (Brussels), World FinTech Forum (Seoul) and Millennial 20/20 (Singapore). At the same time, CashShield has accumulated various accolades, such as the Emerging Enterprise Award (EEA) 2014, the Innovation 4 Impact Award 2015 and was awarded the Productivity and Innovation Credit (PIC) under the R&D section for our one-of-its-kind optimized fraud management technology. 

For more information, please contact
Emma Lee
Marketing Lead
Tel: (65) 6569 3686
Email: emma.lee@cashshield.com